Pinnacle Financial Partners Inc. Sells 1,258 Shares of National HealthCare Co. (NHC)
Pinnacle Financial Partners Inc. decreased its position in National HealthCare Co. (NYSEMKT:NHC) by 7.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,380 shares of the company’s stock after selling 1,258 shares during the period. Pinnacle Financial Partners Inc.’s holdings in National HealthCare were worth $1,079,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the company. Cigna Investments Inc. New bought a new stake in shares of National HealthCare during the second quarter worth approximately $242,000. Sei Investments Co. raised its stake in shares of National HealthCare by 70.8% in the second quarter. Sei Investments Co. now owns 4,121 shares of the company’s stock worth $289,000 after buying an additional 1,708 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of National HealthCare by 16.3% in the second quarter. Advisors Asset Management Inc. now owns 8,988 shares of the company’s stock worth $630,000 after buying an additional 1,262 shares in the last quarter. Bowling Portfolio Management LLC bought a new stake in shares of National HealthCare during the second quarter worth approximately $870,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of National HealthCare by 0.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 44,843 shares of the company’s stock worth $3,146,000 after buying an additional 356 shares in the last quarter.
National HealthCare Co. (NHC) opened at 64.37 on Friday. National HealthCare Co. has a 12-month low of $57.73 and a 12-month high of $78.99. The company has a market capitalization of $978.10 million, a price-to-earnings ratio of 20.24 and a beta of 0.91. The stock has a 50 day moving average price of $67.62 and a 200 day moving average price of $71.20.
National HealthCare (NYSEMKT:NHC) last announced its quarterly earnings results on Friday, August 4th. The company reported $0.70 earnings per share for the quarter. The company had revenue of $239.46 million during the quarter. National HealthCare had a net margin of 4.41% and a return on equity of 6.26%. On average, analysts expect that National HealthCare Co. will post $2.54 EPS for the current year.
National HealthCare announced that its board has approved a share repurchase program on Wednesday, August 9th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, September 29th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend is Thursday, September 28th. National HealthCare’s dividend payout ratio (DPR) is currently 52.94%.
Separately, BidaskClub raised National HealthCare from a “strong sell” rating to a “sell” rating in a report on Friday.
In related news, SVP Jeffrey Russell Smith sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $72.78, for a total transaction of $291,120.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
National HealthCare Company Profile
National HealthCare Corporation (NHC) is engaged in the operation of skilled nursing facilities, assisted living facilities, independent living facilities and homecare programs. The Company is engaged in the post-acute healthcare industry segment. Its business activities include providing sub-acute and post-acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, and home healthcare services.
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